In February, 2007 faculty and students traveled to Seattle for two days of meetings and presentations focused on the entrepreneurship lifecycle. The trip was sponsored by the Lundquist Center for Entrepreneurship and organized by the LCE Student Advisory Board. Companies ranged from early startups to venture-capital funded firms to post-IPOs organizations. In addition to identifying firms throughout the lifecycle spectrum, there was a deliberate attempt to include companies outside of the traditional technology/intellectual property realm and more involved in practicing sustainable practices within entrepreneurship.
Urban Hardwoods (furniture made out of displaced urban trees)
Day one had executives from a number of the companies presenting and meeting with students at the Warwick hotel. Discussion focused on the practical actions involved starting a business as well as an analysis of each company’s business model.
Day two had the students traveling throughout Seattle meeting with early stage and developing firms in sustainable industries. These site vists provided an additional glimpse into the organizational, operational and logostical issues faced by these companies on a day to day basis.
Bill Sherman, Assistant Director for Employment Relations at the Lundquist College of Business Career Services Office, attended meetings with students and also met with hiring managers at several Seattle-based companies. Meeting with employers helps Career Services identify potential opportunities for students and learn about the needs of employers.
Each company offered a different perspective on the challenges and opportuinities that arise throughout the lifecycle
of an entrepreneurial company. Some of the key learnings from this trip included:
Advice on obtaining and utilizing funding for a new venture
The importance of creating a competitive advantage regardless of industry or organization focus
The challenge in matching socially desirable outcomes with a sustainable business model
The importance of finding balance between passion and strategy when building a company
The importance of clearly defining and articulating a vision, then transforming that vision into the
every-day operation of a company.